What Fears Are Likely To Haunt Startups
The trend that has caught up like wildfire in the recent times is that of a start-up. Nobody wants a boss anymore and everybody is abuzz with innovation and creation. People no longer wait for others to invent things that makes lives easier. If they want it, they go get it.
But let us face it. With the inception of every idea comes a set of fears and setbacks which haunt start-ups. What are these fears? Read on to find out more.
1. Baby steps
Most of the young entrepreneurs are inexperienced and risk takers which makes them stand out. But this also means that they are not experts in the field and might be discovering the elements of the business along the way just like you. As long as they know their product or service and can deliver on their customers’ expectations, all is well. You’ll never be perfect or learn everything but one thing for sure is that you grow with time. Today, there are many emerging start-ups and online product selling portals like Tolexo that offer some of the best products at affordable prices. If you looked at their initial business models, you would understand how far they have come from where they had begun.
2. Fund fears
How cool would it be if your thoughts bore pennies and you got paid for your ideas? Or every time you had an amazing start-up idea, you turned into a bank-magnet? But alas! Not all start-ups can bag a huge funding like Paytm, that has grabbed $680 million of investment from Alibaba. Those are the stuff that dreams are made of. Funding is the biggest fear factor, when it comes to starting a business. Right from attracting venture capitalists to viable angel investors, it can be a Herculean task, but with time you learn that all the effort is worth it.
3. Lack of belief
How can you sell something to someone if you don’t believe in it yourself? When you deliver something you believe in, you exude confidence and trust and people automatically treat that belief as a sign of worthiness. You wouldn’t want to lose your customer base to your apprehensions, would you?
4. Shaky starts
It is a given fact that with start-ups, you are testing waters and those baby steps are inexperienced. Don’t let a shaky start drive out your passion. Those little hurdles will only make you stronger and teach you how to overcome all plausible obstacles. So, face them with a sunny spirit.
5. Investment qualms
Many a times the very thought of not being able to recover investment and pay back loans scare the young entrepreneurs off from even trying to start a business. Expecting a profit right in the first phase would be unrealistic. You must wait patiently for the fruits of your hard work to ripen. Quitting isn’t an option. Raising investment capital in the first place was no mean task, have faith in yourself.